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Assembly Bill A7324

2017-2018 Legislative Session

Relates to exemption from taxation of alterations and improvements to multiple dwellings

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Archive: Last Bill Status - In Assembly Committee

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2017-A7324 (ACTIVE) - Details

Current Committee:
Assembly Real Property Taxation
Law Section:
Real Property Tax Law
Laws Affected:
Amd §489, RPT L
Versions Introduced in Other Legislative Sessions:
2009-2010: A5786
2011-2012: A7276
2013-2014: A3314
2015-2016: A3708
2019-2020: A6138
2021-2022: A5604
2023-2024: A4398

2017-A7324 (ACTIVE) - Summary

Relates to exemption from taxation of alterations and improvements to multiple dwellings by expanding certain provisions to include cities where the multiple residence law is applicable.

2017-A7324 (ACTIVE) - Bill Text download pdf 

                            
 
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   7324
 
                        2017-2018 Regular Sessions
 
                           I N  A S S E M B L Y
 
                              April 24, 2017
                                ___________
 
 Introduced  by  M.  of  A. FITZPATRICK -- Multi-Sponsored by -- M. of A.
   BARCLAY, CROUCH, GIGLIO, McDONOUGH, THIELE -- read once  and  referred
   to the Committee on Real Property Taxation
 
 AN ACT to amend the real property tax law, in relation to exemption from
   taxation of alterations and improvements to multiple dwellings

   THE  PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
 BLY, DO ENACT AS FOLLOWS:
 
   Section 1. The opening paragraph of paragraph (a) of subdivision 1  of
 section  489  of  the real property tax law, as amended by section 19 of
 part A of chapter 20 of the laws of 2015, is amended to read as follows:
   Any city to which the multiple dwelling law OR THE MULTIPLE  RESIDENCE
 LAW  is  applicable,  acting through its local legislative body or other
 governing agency, is hereby authorized and empowered, to  and  including
 January  first,  two thousand nineteen, to adopt and amend local laws or
 ordinances providing that any increase in  assessed  valuation  of  real
 property  shall  be exempt from taxation for local purposes, as provided
 herein, to the extent such increase results from:
   § 2. This act shall take effect immediately.
 
 
 
 
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
                                                            LBD11134-01-7

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